While, Bitcoin still attracts most of the headlines, the second largest cryptocurrency, Ethereum, still draws plenty of attention. And for good reason.
Ethereum is not just another currency. It can be used for so much more. The best way to think of it, is like a giant distributed computer. Developers can build apps that run using the computing power of Ethereum. Already we’re starting to see some exciting development on the platform, but it’s still only the very early days.
This past year, Ethereum has jumped up in value, gaining more % wise than compared to Bitcoin.
Why Invest in Ethereum
Many people believe, that because Ethereum is more than just a currency (which of course it can be used for as well), the value of Ethereum will continue to grow. And currently the buy in price is much less than Bitcoin. We might not see Bitcoin double in price again for quite some time, but Ethereum could potentially double a number of times.
Investing in Ethereum
There are a few ways to invest in Ethereum, but I think the easiest and quickest is through Coinbase. I managed to sign up and purchase Ethereum within around 10 minutes. The verification process was straight forward and I was able to purchase using my credit card.
Once purchased, the Ethereum will show up in your account within a couple of minutes. From there, you can either keep it in the online wallet, or transfer it somewhere else.
I recommend storing larger amounts of Ethereum in either cold storage or at least on your own device (make sure you backup). The risk of storing in a cloud based wallet is that you never know how long they will stick around.
The other way to invest in Ehtereum is to speculate on it’s price. The easiest way to do this is through CFDs. A CFD is an investing product thats been around for a long time, but only recently have CFDs been offered for cryptocurrencies.
One of the main advantages of CFDs is that you can open both long and short positions. Meaning you can profit when the price goes up or when it goes down. Because of the volatility of Ethereum, there is plenty of opportunity to make a profit for talented traders.
The best place to trade Ethereum and other Crypto CFDs is through etoro. They have a great interface and offer a large selection of assets to trade in.
Get $10 free Bitcoin with your purchase
Coinbase is currently running an offer where you get $10 free in Bitcoin when you purchase $100 worth of a Cryptocurrency. You can take advantage of this offer here.